New article has been posted on The Huffington Post, on 7/19/11. Click on link to read article on Huff Post.
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Holding the debt ceiling hostage is a huge political mistake.
The debt limit and budget deficit are separate issues and should be dealt with separately.
This debt limit is the ghost of Congresses past. The budget and reducing the deficit is the ghost of Congresses future. But, reality is firmly entrenched in the present.
Reasonable legislators understand the immediacy of raising the debt ceiling and the potential ramifications of failing to do so.
It has been raised without question 10 times since 2000, eight times under George Bush. Though there is no clear history from a previous default, economic and business leaders around the world are warning of catastrophic implications in failing to do so.
If this is even remotely possible, why are Republicans holding the debt ceiling hostage?
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